Discussion on Arete and adapting it to modern values.

For those who don't fully understand the concept, here is a good link describing the value

http://en.wikipedia.org/wiki/Arete

It literally means "excellence", but, it has further meaning to it than what an english translation can provide.  Like how in America, freedom is considered a value, Arete was considered a value in Ancient Greece.  The idea behind it is that the actions you do in public and how people view you determine who you are.

I believe that we can translate this to western philosophy through the idea of Legacy.  After you die, all that is left in the physical world is your memory and that we should strive for Arete.  

What is your opinions on the idea of Arete and how do you think you can relate this to something relevant in the modern world?  All ideas are welcome, please post them in the comments below.